US stocks fell for a fourth day on Thursday as the relentless climb in oil prices and fresh evidence of sticky inflation boosted Treasury yields and bets the Federal Reserve will lift interest rates. The S&P 500 Index dropped 0.5% as of 9:43 a.m. in New York, while the Nasdaq 100 Index slumped 0.97%. If the S&P 500 closes in the red, it would be the benchmark’s longest slump since June.

With tensions ibn the Middle East flaring, West Texas Intermediate crude oil surged around 4%, briefly topping $100. Treasury yields rose across maturities, with 10-year rates climbing above 4.9%, a multiyear high.